In yesterday’s Wall Street session, Broadcom Inc (NASDAQ:AVGO) shares traded at $161.06, up 2.36% from the previous session.
AVGO stock price is now 5.13% away from the 50-day moving average and 30.84% away from the 200-day moving average. The market capitalization of the company currently stands at $749.71B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $175 to $210, TD Cowen maintained Buy rating for Broadcom Inc (NASDAQ: AVGO). On July 11, 2024, Rosenblatt reiterated its ‘Buy’ rating on the stock by increasing its target price from $1650 to quote $2400, while ‘Citigroup’ rates the stock as ‘Buy’
In other news, TAN HOCK E, President and CEO sold 7,502 shares of the company’s stock on Jul 11 ’24. The stock was sold for $12,798,037 at an average price of $1705.95. Upon completion of the transaction, the President and CEO now directly owns 138,191 shares in the company, valued at $22.26 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 20 ’24, Director PAGE JUSTINE sold 254 shares of the business’s stock. A total of $444,566 was realized by selling the stock at an average price of $1750.26. This leaves the insider owning 2,748 shares of the company worth $0.44 million. A total of 2.02% of the company’s stock is owned by insiders.
During the past 12 months, Broadcom Inc has had a low of $79.51 and a high of $185.16. As of last week, the company has a debt-to-equity ratio of 1.06, a current ratio of 1.25, and a quick ratio of 1.16. According to the stock market information, the enterprise value for the company is $95574663168, which is based on a 69.29 price-to-earnings ratio, a 3.89 price-to-earnings-growth ratio, and a beta of 1.19. The fifty day moving average price for AVGO is $153.77374 and a two-hundred day moving average price translates $123.49486 for the stock.
The latest earnings results from Broadcom Inc (NASDAQ: AVGO) was released for 2021-08-01. The net profit margin was 24.10% and return on equity was 22.23% for AVGO. The company reported revenue of $12.49 billion for the quarter, compared to $8.73 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.99 percent.
